Sun and Ranbaxy must sell off urology drugs in India for deal approval

Antitrust regulators in India have approved the $4 billion sale of Ranbaxy Laboratories to Sun Pharmaceutical on the condition the two companies divest 7 products to avoid market concentration, Bloomberg reports. Regulators were particularly concerned with the concentration in sales of the urology drugs tamsulosin and tolterodine for which they would hold 90% to 95% of the market. The companies were given some options for divesting, but were also told they would have to sell some of their brands of the drug. The merger will combine India's first and second largest drugmakers. They will also be strong in the U.S., but Ranbaxy is prevented from selling from four of its 5 FDA approved plants to the U.S. right now because of problems with production quality. Story | More